The Future Supply of Oil and Gas: A Study of the Availability of Crude Oil, Natural Gas, and Natural Gas Liquids in the United States in the Period through 1975

The Future Supply of Oil and Gas: A Study of the Availability of Crude Oil, Natural Gas, and Natural Gas Liquids in the United States in the Period through 1975

The Future Supply of Oil and Gas: A Study of the Availability of Crude Oil, Natural Gas, and Natural Gas Liquids in the United States in the Period through 1975

The Future Supply of Oil and Gas: A Study of the Availability of Crude Oil, Natural Gas, and Natural Gas Liquids in the United States in the Period through 1975

Excerpt

The future supply of energy in this country has been the subject of much attention in recent years, especially since the advent of the question of how nuclear power is likely to be integrated into the total supply of energy from various sources. A host of articles and several books have considered the subject from many viewpoints and, although a few rather narrow areas of agreement may be identified, the subject in general remains a field of active controversy. The present study, limited to crude oil, natural gas, and natural gas liquids availability, is offered with the hope that yet another look at the subject is justified in this instance by the use of concepts and an analytical approach that provide a new perspective and offer the possibility of widened areas of agreement.

It should be emphasized at the outset that the object of this study is not to arrive at forecasts or projections of future crude oil and natural gas production in this country. Such predictions have their usefulness in appropriate circumstances, but they are difficult to divorce from considerations of the demand that would call forth such levels of production. The course of future demand is a subject in itself. The analysis in this study is concerned with availability, which excludes the need for considering future demand. But demand is a deter-

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